FinanceAsia
WEBPBOC offers stimulus relief for mortgages, cuts RRR for banks. Outstanding mortgage rates for individual borrowers will be cut by 0.5%, potentially helping around 50 million households, while the reserve requirement ratio (RRR) for most banks will also be cut by 0.5%. September 24, 2024.
How a Malaysian millennial-managed family office charts the …
WEBMar 10, 2020 — New to the investment game, family office RHL Ventures acutely follows Asian millennial behaviour and invests in startup companies it believes will capitalise on it. Investments run the gamut from dating, bespoke coffee to “clean” cosmetics.
Indonesian fintech startup Ovo expects to breakeven in 2-3 yrs
WEBSep 9, 2019 — Fintech. Indonesian fintech startup Ovo expects to breakeven in 2-3 yrs. The Lippo and Grab-backed startup, last valued at about $2.9 billion, is riding Indonesia’s cashless payments wave to bring merchants and financial institutions timely consumer insights. Ovo’s CEO Jason Thompson sees a fresh fundraising drive next …
Citi appoints CEO for Hong Kong & Macau - FinanceAsia
WEBAugust 23, 2022. US-headquartered banking group, Citi, has appointed Aveline San as chief executive officer for Hong Kong and Macau, effective July 17, as per a note seen by FinanceAsia. San will retain her position as chief executive of Citibank NA in Hong Kong, in addition to her new role. She is responsible for fostering key client and ...
Bancassurance takes off in Asia - FinanceAsia
WEBAug 9, 2016 — For instance, a mere 2-3% of Southeast Asia is penetrated compared with 7% in South Korea. Yet, the Asian insurance sector is expanding, with GWP (gross written premium) achieving a 6% CAGR between 2010 and 2014, and AIA and Prudential (UK) growing revenues at 15% or more in recent years. Before 2001, there was no bancassurance in Asia.
Chinese banks to finance $800m OmniVision acquisition
WEBMay 05, 2015. Bank of China and China Merchants Bank are arranging a loan facility of about $800 million to finance a Chinese consortium's $1.9 billion acquisition of US-listed OmniVision Technologies, according to two sources familiar with the matter. The Chinese consortium comprises Beijing-based Hua Capital Management, Citic Capital and ...
Citi completes sale of Indonesia consumer business to UOB
WEBAndrew Tjaardstra. November 20, 2023. Citi has completed the sale and migration of its Indonesia consumer businesses to UOB Indonesia (UOBI). The sale includes retail banking, credit card, and unsecured lending businesses, as well as the transfer of an unspecified number of employees. It doesn't include Citi's institutional business in the country.
Top leadership shakeup at HSBC - FinanceAsia
WEBSeptember 27, 2010. HSBC late Friday announced a shakeup of its top leadership that was sparked by the nomination of chairman Stephen Green to a government post earlier this month. However, the reshuffle became a lot more dramatic than initially perceived when CEO Michael Geoghegan announced his resignation, leaving the board with not one, but ...
Swap Connect signals renminbi's global power potential
WEBMay 9, 2023 — On Friday (May 05), Hong Kong and China’s central banking authorities announced the launch of Swap Connect, a pioneering initiative that opens up institutional entry to the region’s interbank interest rate swap markets.. Scheduled to go live from May 15, the scheme marks the world’s first derivatives mutual market access programme and builds on plans first announced in July last year by ...
Awards - FinanceAsia
WEBAug 19, 2024 — Awards. FinanceAsia has been recognising excellence in Asia’s capital markets since 1996. Celebrating the best deals and identifying the institutions and service providers who worked on them, our comprehensive awards coverage sets the gold standard in the region. Below is a comprehensive record of all deserving winners announced by ...